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Lizhi Inc ADR Down 23.48% To $2.90 After Earnings

Thursday, November 30, 2023 02:43 PM | InvestorsObserver Analysts

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Lizhi Inc ADR Down 23.48% To $2.90 After Earnings

Lizhi Inc - ADR (LIZI) missed earnings projections on 11/29/2023 for Q3 2023.

Lizhi Inc ADR's earnings came in at an EPS loss of $1.38 per share. The firm's earnings are down 297% since reporting $0.7 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Lizhi Inc ADR reported a revenue of $58.3 million in Q3 2023. The firm managed negative 27% growth year-over-year due to Lizhi Inc ADR reporting quarterly revenue of $79.5 million in its year-ago quarter. Lizhi Inc ADR achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is down 23.48% to $2.90 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Trading in the five days leading up to the report earned Lizhi Inc ADR a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 38.

Lizhi Inc has built an audio ecosystem with a global presence consisting of audio-based social networks, podcast content portfolios and audio communities. The company aims to bring people closer together through voices by its product portfolios. It offers LIZHI App, an online UGC audio community, interactive audio entertainment platform and online audio platform in China. The group's revenues comprise audio entertainment revenue, podcast, advertising and other revenue.

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